What Is A Freehold Purchase Solicitor?

If you are considering investing in freehold, you need to think very carefully. There are a lot of factors involved in the process of a freehold purchase. Without knowledge of professional help from a freehold purchase solicitor, there is a lot that can go wrong.

That’s what we look at in this blog post.

Here at Burgh Thorpe Solicitors in Peterborough, we have helped many people with their freehold purchase. This is because it can be such a complicated and daunting task for many people. With so much involved, there is so much room for error – if you don’t know what you are doing. However, here at Burgh Thorpe Solicitors our freehold purchase lawyers have the skills, experience and knowledge that you need.

When it comes to a freehold purchase, you need to determine the cost of acquiring the freehold. Once this is done you need to ensure that this aligns with your financial capacity. We know many mortgage providers that will be willing to extend your mortgage to facilitate the purchase of the freehold. However, it is recommended that you speak with a mortgage advisor as early in the process as possible. This will ensure if it is a feasible option or not.

You will also need a professional valuation. This is not an estimation, but a real valuation of the freehold, by a professional. We would recommend contacting a surveyor who is familiar with doing valuations. This way you will get the most accurate figure for the freehold. We can put you in touch with a suitable surveyor if you need one.

The next step is to make an offer, this is done through your freehold purchase solicitor. We will initiate the process for you. This is done by issuing something called a “tenants’ notice”. It is a formal way of requesting the purchase of the freehold. This notice must bear the signatures of the leaseholders participating in the freehold purchase. The landlord is then required to respond with a “notice in reply”. This must be done within two months.

Dependent on how or when the landlord responds, states how we, as your freehold purchase solicitor, act next. However, regardless of the Landlords response, we will manage the process for you, updating you every step of the way.

Need a freehold purchase solicitor in Peterborough that you can trust and rely on? Call our conveyancing solicitors now to see how we can help you with your freehold purchase.